Universal Display Corporation ( NASDAQ: PANL), today announced it ranked number 198 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America during the previous five years. Universal Display grew 442 percent during this period, and this marks the eighth year the company has been ranked in the Technology Fast 500.
“We are honored to be ranked in Deloitte’s Technology Fast 500 for the eighth consecutive year. We have been committed to delivering state-of-the-art OLED technologies and UniversalPHOLED materials to support our partner and customer’s development and commercialization of high-performance OLED products, including Samsung’s power-efficient OLED displays for their Galaxy line of smart phones,” stated Steven V. Abramson, Universal Display’s President and Chief Executive Officer. “With investments in our team, our technologies and our infrastructure, we have built a strong foundation to support the OLED display and lighting industries with continued innovations as the market grows from almost $4 billion in 2011 to over $30 billion in 2017, as projected by Display Search.”
“We are proud to honor the 2012 Technology Fast 500 companies, and commend them for their outstanding growth,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. “These ground-breaking companies have outpaced their competition and are reinventing the way we do business today.”
“The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy,” said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). “As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Universal Display Corp. for this impressive accomplishment.”Universal Display previously ranked number 462 as a Technology Fast 500 award winner for 2011.